Quinn Insurance staff face job cuts.

Thursday, April 22, 2010

An email from the administrator this afternoon to the staff of Quinn Insurance suggests that not all the jobs there are viable.

Dear All

We welcome the Financial Regulator's decision yesterday to allow limited re-entry to  the UK market for provisional drivers. This re-entry is only in some of the areas in the business plan that was submitted to the Financial Regulator. We will continue as a matter of urgency to liaise with the Financial Regulator in relation to other UK business lines submitted in the business plan and will keep you updated accordingly.

As a consequence the UK business will be significantly reduced compared to the levels prior to administration and it is likely that our customers understanding of the Administration process will impact some of our ROI business lines, we are currently assessing the impact on the business and particularly staffing levels in the short, medium and longer term. Regrettably we will be unable to continue as we are.

We expect to complete assessment by next Friday 30th April and at that point we will update you with the findings. In the circumstances it is critical that communication with staff is consistent and staff views are incorporated in any final decision. Therefore we are commencing a formal process to elect Employee Representatives for each site. There will be a further communication on the details of this shortly.

I would like to reiterate to all staff that whilst there are challenging times ahead our focus is to ensure that the Company can continue as a going concern and returned to a sound financial footing and therefore remain a significant employer.

Kind Regards
Michael McAteer
Joint Administrator

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